SVB Wealth LLC Takes Position in Marsh & McLennan Companies, Inc. $MMC

SVB Wealth LLC bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC) in the 2nd quarter, Holdings Channel.com reports. The firm bought 31,345 shares of the financial services provider’s stock, valued at approximately $6,853,000.

Other large investors have also added to or reduced their stakes in the company. L2 Asset Management LLC increased its position in shares of Marsh & McLennan Companies by 6.2% during the 2nd quarter. L2 Asset Management LLC now owns 2,207 shares of the financial services provider’s stock valued at $483,000 after purchasing an additional 128 shares during the last quarter. Temasek Holdings Private Ltd purchased a new stake in Marsh & McLennan Companies in the second quarter worth approximately $31,343,000. Ossiam grew its position in Marsh & McLennan Companies by 75.8% during the second quarter. Ossiam now owns 18,378 shares of the financial services provider’s stock valued at $4,018,000 after acquiring an additional 7,924 shares during the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of Marsh & McLennan Companies by 0.7% in the 2nd quarter. Baker Avenue Asset Management LP now owns 68,933 shares of the financial services provider’s stock worth $15,071,000 after acquiring an additional 470 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Marsh & McLennan Companies by 21.8% in the 2nd quarter. Cerity Partners LLC now owns 317,894 shares of the financial services provider’s stock valued at $69,504,000 after purchasing an additional 56,931 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the completion of the sale, the chief executive officer directly owned 87,681 shares of the company’s stock, valued at approximately $15,977,231.82. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $181.77 on Monday. The company has a market capitalization of $89.05 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 3.12 and a beta of 0.75. The company’s 50-day moving average is $187.91 and its 200 day moving average is $202.98. Marsh & McLennan Companies, Inc. has a one year low of $174.18 and a one year high of $248.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.34 billion. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 EPS. Sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, October 2nd. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is presently 43.17%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen lowered their price target on shares of Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a research note on Monday, November 3rd. Wells Fargo & Company lowered their price objective on shares of Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of Marsh & McLennan Companies in a report on Friday, October 31st. The Goldman Sachs Group upgraded Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $200.00 to $195.00 in a report on Monday, October 20th. Finally, Cantor Fitzgerald initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set an “overweight” rating and a $256.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $223.00.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.